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One West End Listing Details & Market Data

One West End, New York, NY

UPLAND PROPERTY ADVISORS, as exclusive agent, is pleased to offer for sale the commercial condominium unit located within the building at One West End Avenue (the “Property”). The Property is situated in heart of the booming Lincoln Square neighborhood northwest of Midtown Manhattan, where massive residential development is driving rapid expansion of shopping demand. The unit has significant scale, and includes a high-end 30,000 square foot two-level Morton Williams supermarket leased through 2043, along with two small available ground floor corner retail suites. The newly-built Property is located at the base of the full-block One West End Avenue luxury condominium tower and provides some of the most modern, attractive, and convenient shopping facilities in the district.

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Location

  • Walk Score ® Walker's Paradise (93)
  • Transit Score ® Rider's Paradise (100)
  • Bike Score ® Very Bikeable (79)
Powered by Walk Score ®
  • City New York, NY
  • Neighborhood Clinton - Hell's Kitchen
  • Market Manhattan

Points of Interest

Times Square

1.08 miles

59th Street

1.26 miles

East 51st Street & Lexington Avenue at Northwest Corner

1.31 miles

East 68th Street & Lexington Avenue at Southwest Corner

1.33 miles

33rd Street

1.55 miles

83rd Street & 2nd Avenue at Northeast Corner

1.95 miles

18th Street

2.12 miles

Midtown Operating

2.84 miles

110th Street & Lexington Avenue at Southwest Corner

2.87 miles

Hunterpoint Ave (7)

2.91 miles

ChargePoint

1.24 miles

ChargePoint

1.25 miles

Tesla Supercharger

1.53 miles

ChargePoint

1.75 miles

ChargePoint

2.62 miles

ChargePoint

3.08 miles

Sonamax

3.54 miles

Speedway

3.66 miles

Tesla Supercharger

3.73 miles

Tesla Supercharger

3.81 miles

Quik Park

0.75 miles

MPG Manhattan Parking: MP Hudson

1.42 miles

iClean

1.50 miles

Select Garages

1.71 miles

Park Fast

3.79 miles

Park Kwik

4.62 miles

153rd Street Garage

4.92 miles

Terminal A Parking

5.44 miles

Rapid Park

6.86 miles

The Brooklyn Museum and Botanic Garden

7.07 miles

Westside 57 Restaurant

0.17 miles

La Masseria

0.72 miles

The Plaza Food Hall

0.91 miles

Hale and Hearty

1.19 miles

Little Collins

1.32 miles

Eléa

1.33 miles

Food Gallery 32

1.62 miles

Kosher in Midtown

1.65 miles

Morton Williams Cafe

2.33 miles

Ichie

2.41 miles

Barneys New York

1.06 miles

Saks Off 5th

1.23 miles

Hammacher Schlemmer

1.30 miles

Manhattan Mall

1.52 miles

Target

1.88 miles

Harry Potter

2.10 miles

Marshalls

2.15 miles

Chelsea Market

2.16 miles

kindbody

2.36 miles

Paper Source

2.37 miles

Contacts

broker

YOAV OELSNER

(646) 908-4990

broker

GLENN TOLCHIN

(646) 908-4989

Highlights

  • SECURE LONG-TERM TENANCY The Property is 92% leased through 2043 to leading grocery chain Morton Williams, providing reliable long-term cash flow backed by one of New York City's strongest operators.
  • LANDLORD-FAVORABLE LEASE TERMS Morton Williams pays a 10% increase in base rent every five years and is responsible for a 50% pro-rata share of taxes on a net basis. Morton Williams also pays 100% of CAM increases over a base, further enhancing real returns.
  • RESIDENTIAL BOOM The Property is situated at the epicenter of Lincoln Squares new development activity, with more than 8,000 new or under-construction units within a five minute walk.
  • ONE WEST END The Property is located at the base of the architecturally striking Pelli Clarke Pelli-designed One West End, a newly-completed 950,000 square foot mixed use building with 362 luxury residential units that deliver strong captive demand.
  • NEW CONSTRUCTION ADVANTAGE Completed in 2018, the full-block Property provides competitively superior facilities that will require virtually no capital investment for decades to come.
  • ESSENTIAL USE The Property's grocery store use is an essential service, highly resilient to economic, social, or healthcare-related disruptions.
  • VACANCY UPSIDE Opportunity to lease up Retail Space A (895 sf) and Retail Space B (1,744 sf) with the pending completion of Waterside Square's restaurant and retail offerings across the street.
  • 421A TAX ABATEMENT The Property benefits from a 421a tax abatement through tax year 2039, with a 100% abatement of real estate tax expense for the next eleven years.
  • IDEAL 1031 OPPORTUNITY Reliable long-term low-management investment with excellent appreciation potential, ideally suited to a 1031 buyer wishing to defer capital gains.

Contact One West End

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